The Market Continues its Dive, Britney Shaved Head Style

The major indexes are once again falling, proving that U.S. equities are as stable as a non-medicated Britney Spears.

Today traders are all worried about deflation, double-dip recession, and the same cut & paste issues that have plagued this market since 2008.  However if you have any cash laying around get it out of stocks and go buy yourself a second home thanks to mortgage rates falling to their lowest level on record for the fifth time in six weeks.

So let's all shave our heads, get a little crazy, and attack some camera dude (just for fun).

The only good news today is mortgage rates, either buy yourself that second home or refinance, seriously.

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NEW YORK (AP) -- Mortgage rates dropped to the lowest level on record for the fifth time in six weeks, making homebuying and refinancing the most attractive in decades for those who can get loans.

The average rate for 30-year fixed loans this week was 4.54 percent, down from 4.56 last week, mortgage company Freddie Mac said Thursday. That's the lowest since Freddie Mac began tracking rates in 1971.

The last time rates were lower was during the 1950s, when most mortgages lasted just 20 or 25 years.

The rate on the 15-year fixed loan dropped to 4 percent, down from 4.03 percent last week and the lowest on record.

Rates have fallen since the spring. Yields on U.S. Treasury bonds have dropped as jittery investors seek safer investments. Mortgage rates tend to track the yields on Treasurys.

SOURCE: http://finance.yahoo.com/news/Mortgage-rates-hit-low-of-454-apf-43499417...